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Bundesbank chief Nagel said the global economy remains on a growth path despite Middle East tensions, and that easing core and services inflation shows no second-round effects — language consistent with an ECB cut path and lower front-end EUR yields. More significant for FX is his explicit welcome of coordinated intervention in the yen plus expected consultations on future measures, which raises two-way risk in JPY crosses with USD/JPY still holding above its 100-day moving average at 160.01. Watch EUR/JPY around the converged 185.57-185.63 hourly moving averages and the 185.10 100-day level: a break lower would signal intervention risk premium is being priced in, and any sharper yen squeeze tightens carry funding, a channel that historically pressures high-beta risk including BTC and ETH.
As a Forex signal, watch whether it changes price action, volatility, or flows around JPY=X, EURJPY=X.
Original Source: InvestingLive Central Banks
This page is market information analysis, not investment advice.
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